[Cobra64]

The payroll tax holiday appears to replace Obama’s “making work pay” tax cut which was in the Stimulus. Is there a reason this is not a good deal.

No it's not a "good deal." Payroll taxes are what funds your social security account. Fewer dollars of your and your employer's contributions are going into YOUR account. In essence you get to get what should have been going into your Social Security "retirement" account.

Look up "Federal Insurance Contribution Act", "FICA," and "Social Security."

People need to understand what the numbers mean on their pay stubs.

[newbie 10-21-00]

You’re not very creative are you? Guess where my 2% is going to end up? That’s right, my 401K. Thanks zerobama for privatizing part of SS. Did some quy suggest that a few years ago?

[WOSG]

No, this is good thing, because Obama’s tax CREDIT was a giveaway whether you worked or not, but this is a direct tax RATE CUT.

It’s a direct work-enhancing tax cut and a MUCH better deal than extending UI.

And the “YOUR account” is a fiction, unless and until we get individualized SocSec accounts. YOu are merely validating higher taxes with that concept. I dont WANT higher SocSec, I’d rather pay lower taxes and expect nothing in return than pay 15%+ percent for the SocSec stipend. Socialist Insecurity is a Bad deal without invidual choice and empowerment.

[Deo volente]

Fewer dollars of your and your employer's contributions are going into YOUR account.

It doesn't matter, because we don't have individual SS accounts into which we "deposit" contributions. It's not a "savings" account. They're all thrown into the general SS fund, from which payments are made to recipients. The amount of your eventual payment is determined by your average INCOME over the course of your working years. The amount of your contributions has nothing to do with the amount you'll receive when you retire.